Assignment on Ethical and Financial Services

Added on - 28 May 2020

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Ethical and financial services1ETHICS AND FINANCIAL SERVICESBy (Student’s Name)Professors NameCollegeCourseDate
Ethical and financial services2ETHICS AND FINANCIAL SERVICESPart C: RecommendationsMEMORANDUMTo: Board of DirectorsFrom: (Write your name)Cc: CEODate: 15/01 2018Subject: RecommendationsAfter analyzing entire core priorities areas for change management with the intention ofrepairing reputation of the institution then make a good image of the bank to stakeholders. In myinitial research I successively recognized some important places for corrective action whichinclude management, board directors, HR department, culture and those who perform dailyactivities (Armour 2017). I paid keen attention to your opinion of implementing the entire 5corrective actions; I have decided to consider three important areas which include; employees,management and the board.Purpose:This memo will advise the organization management of core areas whichshould be given priority so that the institution can concentrate in them with an aim of repairingimage and restore the trust amongst its stakeholders (Sethi, Martell and Demir 2017). However,various recommendations that aids in correcting Bank’s reputation and help in building goodrelation in the Bank is represented by the use of model called ethical decision-making (Knight2017).Analysis:In order to find out the key priorities areas and present rational for myselection of the above mentioned areas, I performed various evaluation and investigate all cases
Ethical and financial services3which contain the analysis of stakeholders (Turi, Domingo-Ferrer, and Sánchez 2018). It hasbeen in place due to controversial nature of the Banks in Australia on the need for thegovernment to put in place a specific commission into the industry to investigate theperformance and practices1 Rational: Board:As stated above, the corporate governance of the board must beconsidered in order to encourage good performance of the bank. I experience from my evaluationa wide gap that brings about negligence within the Board of CBA. This provides the reason whythe bank has continued to be the most scandalous in the market thereby revealing bad image tothe general public. This was supported negative events that CBA has continued to take part in ascandal that made use of fake signatures alongside dodgy financial planning and this causedCEO to ask for apologize because it negatively affecting the business image and trust(Ferrell andFraedrich 2015). Additionally, the corrupt governance has encouraged the actual use of dirtypractices buried in the fine print condition of its contracts to deny delays and avoid paying claimsin time. This has made several customers to lose moral hence making it turns its image andreputation (Jarrett 2018).Analysis:From the evaluation above, the Board strategy establishment in regard to entiremanagement, the Board with respect to key changes of Bank corporate governance, and workerswith respect to expert reaction on colleagues in the process customers remained a key factor inwhich the organization gives much attention and thereby initiating changes to help restorereputation.2Rational: Management:This always has greater impact on issues of corporategovernance, policies and strategies. The management is where actual implementation of policies
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